©Reuters.
Lauren Fisher Newberg, Senior Vice President and Chief Legal Officer of TEGNA Inc. (NYSE:), sold 8,477 shares of the company's common stock, according to a recent SEC filing. The transaction took place on March 15, 2024, and the shares were sold at a price of $15.00 per share, for a total sale price of approximately $127,155.
This sale was significant because it left Fisher Newberg with direct ownership of only one share. However, it is important to note that Fisher Newberg still has indirect ownership of 847.052 shares through its 401(k) plan, according to a footnote in the filing. The transaction appears to be related to restricted stock units granted as part of Mr. Fisher Newberg's contract award to compensate him for the deprivation of benefits from his former employer. is.
The filing also revealed that even after this sale, Fisher Newberg continues to own more shares in the company than is required to meet TEGNA's ownership guidelines. This indicates that a vested interest in the company's performance continues and is aligned with shareholder interests.
Investors often monitor insider transactions as it can give them an idea of management's confidence in the company's future. Tegna, a media company focused on television broadcasting, has gone public, and a growing number of investors are paying close attention to the movements of company insiders.
For those who follow TEGNA's stock performance and insider transactions, it's worth noting that the company's stock is listed on the New York Stock Exchange under the ticker symbol NYSE:TGNA.
Investment Pro Insights
TEGNA Inc. (NYSE:TGNA) has weathered a difficult market environment, as reflected in some recent metrics. The company's market capitalization is $2.52 billion and the price-to-earnings ratio (PER) is 6.28 times, but looking at the past 12 months as of Q4 2023, it has increased slightly to 6.71 times. Despite the pressures it faces, TEGNA's valuation suggests that: A solid free cash flow yield is an important metric for investors looking for companies that can generate cash after funding operations and capital investments.
InvestingPro's tip for TEGNA highlights that the company has raised its dividend for three consecutive years, demonstrating a commitment to returning value to shareholders. Additionally, TEGNA has maintained its dividend payments for his 54th consecutive year, a testament to its financial stability and reliability as an income-producing investment. If you're interested in more analysis and insight, check out InvestingPro Tips at https://www.investing.com/pro/TGNA.
Another notable metric is the company's dividend yield, which stands at 3.18% as of the latest data, with trailing 12-month dividend growth rate of 19.74% as of Q4 2023. This can be particularly attractive to income-oriented investors. Additionally, TEGNA's current assets exceed short-term debt, indicating a solid liquidity position that reassures investors about the company's ability to repay short-term debt.
For investors and analysts seeking comprehensive information, additional InvestingPro Tips are available that may shed light on TEGNA's financial health and future prospects.Use coupon code pro news 24 Get an additional 10% discount on annual or biennial Pro and Pro+ subscriptions for deeper insights and analysis to enhance your investment strategy.
This article was generated with the help of AI and reviewed by an editor. Please see our Terms of Use for more information.
